BATON ROUGE, La. (April 12, 2010) - Louisiana Workers' Compensation Corporation's financial strength rating of "A" (Excellent) by A.M. Best Company has been reaffirmed for 2010. This is the ninth consecutive year that LWCC has received the "A" rating. LWCC's financial size category is Class X.
A.M. Best is the leading provider of ratings, news and financial data for the insurance industry worldwide. The "A" (Excellent) rating is assigned to companies that have excellent financial strength and operating performance, as well as favorable market position when compared to industry standards that A.M. Best has established. Best's ratings represent an objective quantitative and qualitative evaluation of an insurer's ability to meet ongoing obligations to its policyholders.
In its 2010 rating rationale for LWCC, A.M. Best stated: "The rating reflects Louisiana Workers' Compensation Corporation's (LWCC) superior capitalization, strong operating performance and dominant position in the Louisiana workers' compensation market. The rating also acknowledges the company's aggressive claims management, effective loss control services and the successful track record of the executive team in managing the company's operations."
LWCC (www.lwcc.com) is a private, nonprofit mutual insurance company. It is Louisiana's largest writer of workers' compensation insurance, covering about 18,000 policyholders in the state. For eight years in a row, LWCC has been named one of the 50 top-performing property and casualty insurance companies in the nation--most recently out of more than 3,100 such companies--by Ward Group, the leading authority on insurance industry benchmarking.
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